Georgia Senate elections threaten pillar of market rally
NEW YORK (Dec 11): Investors are looking ahead to dual US Senate runoffs in Georgia early next month, a potential threat to a year-end rally…
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JP Morgan pegs these glove makers' fair value at up to half their market price, says supernormal cycle is over
KUALA LUMPUR (Dec 11): JP Morgan has reinstated coverage of Top Glove Corp Bhd, but with an underweight recommendation and a fair value of RM3.50…
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Where is FGV heading?
KUALA LUMPUR (Dec 12): Amid talk of the Federal Land Development Authority (FELDA) wanting to terminate the land lease agreement it has with its 33.6%-owned subsidiary FGV…
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Malaysia Airlines' sister co Firefly to start jet ops from Penang to KK, Kuching, JB
KUALA LUMPUR (Dec 12): Malaysia Aviation Group Bhd (MAG) subsidiary Firefly Airlines will start narrow-body jet operations next month (January 2021) from its northern hub…
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Ringgit likely to continue uptrend against US dollar next week
KUALA LUMPUR (Dec 12): The ringgit is likely to continue its uptrend next week, carving out a meaningful break below 4.05 before reclaiming that psychologically-important…
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Here's what Top Glove has to say about sustaining its super profits
KUALA LUMPUR (Dec 12): The world’s largest rubber glove maker Top Glove Corp Bhd’s latest record-breaking net profit surged past RM2 billion, backed by strong…
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US FDA authorises Pfizer Covid-19 vaccine for emergency use
BENGALURU/WASHINGTON/NEW YORK (Dec 11): The US Food and Drug Administration said it authorised the use of Pfizer Inc’s Covid-19 vaccine on Friday, with the first…
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XE Market Analysis: Europe – Dec 10, 2020
Sterling is under pressure after three hours of “lively and interesting” talks between UK PM Johnson and the European Commission President von der Leyen, and their chief negotiators, last night failed to find a way round “significant obstacles.” Talks will continue, and a new deadline has been set for Sunday, with the leaders promising that […]
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XE Market Analysis: North America – Dec 10, 2020
The pound underperformed while the dollar bloc outperformed, and the DXY dollar index lifted to a three-day high. Yen weakness was another theme, with USD-JPY rising to eight-day highs above 104.50, and AUD-JPY and CAD-JPY pushing to respective three- and six-month highs.
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XE Market Analysis: Asia – Dec 10, 2020
The Dollar was mostly lower in N.Y. on Thursday, dented early on by worse than expected initial and continuing jobless claims. The DXY fell from 91.15 into the open, later bottoming at 90.67 before recovering modestly. The only other data point was November CPI which came in a touch warmer than consensus. Wall Street was […]
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France 40 IG Client Sentiment: Our data shows traders are now net-long France 40 for the first time since Nov 04, 2020 when France 40 traded near 4,887.10.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bearish contrarian trading bias.
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New Zealand Dollar Forecast: Bullish Momentum Gathering Pace for NZD/USD Rates
The New Zealand Dollar is well-positioned for more gains, similar to its Australian Dollar brethren.
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Australian Dollar Outlook: Aussie Breakout Crosses Big Fig at 7500
Australian Dollar technical breakout has fueled a rally above the 75-handle as Aussie soars to multi-year highs. These are the levels that matter on the AUD/USD charts.
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Brexit Latest: Deal or No Deal? EUR/GBP Rates are Trapped in Range
EUR/GBP rates have been trading sideways for the better part of six months, and without resolution to the Brexit saga, there’s little reason to think the range will break.
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GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Dec 03, 2020 14:00 GMT when GBP/JPY traded near 139.67.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bearish contrarian trading bias.